Selling L/H w/ VA financing, Help!

I have this l/h deal purchased, rehabbed, under contract, buyer easily qualified, set to close on the 30th. But, I have run into a very large problem.

I helped my buyer get set up with VA financing. The home being sold is on a private street with 18 other homes and VA wants 75% of the residents to sign a notarized “Road Maintenance agreement” holding them accountable for their small part of the road. The residents have been responsible for their part of the road all along but when I approach these residents they do not want to, “sign a contract with the government.” It really looks like this is going to put a hole right in my deal if I don’t get this figured out. I am trying to work through it but I am getting stuck. Has any one dealt with this before?

This very home sold previously with FHA financing in 2001 so my finance lady got in touch with the title company who closed the deal and they have nothing on file from when it was closed then. So they got arounnd it somehow.

Any help/suggestions would be appreciated.

Cole Haynes



One option is to give the road to the city or county and let them maintain it. This would most likely require signatures from all of the property owners, but I can’t see them passing on letting someone else maintain the road.


Try finding American General Financial Services in your area thru the internet. They will finance the trailer as long as it has been converted to real property without all the hassle of VA financing.


The problem that I have with American General is the amount my buyer has to put down. With VA and FHA financing my buyer puts down 0-3% and I can cover it, and I do. This one was just giving me some difficulty. It turns out that FHA no longer requires these documents for homes on private roads but VA still does.

But we seem to have it all squared away and still closing on the 30th.

  • Jerry, what part of the country are you in?



call Victoria @ Ameriland Title… she knows FHA and VA. We just lost a deal on FHA cuz well was 1 feet too close to property line. I hated life. The Buyers were getting in with 3% down and I offered 3% cash to close for closing costs.

Her # is 352.687.9222

Tell her I referred you and if she doesn’t hang up she will share any tips she knows. In FL getting anyone to sign anything is tough…

Good Luck Brother,

I have conventional loan hookups with 5% down here in FL if you need them. Buyer have 640 FICO?




I will definitely keep her number for the future and your conventional loan hookup, just 5% down conventional is HUGE.

We actually got this all worked out with the road agreement so we are back on track to close. I have two others I am marketing the same way with 100% financing and I pay 3% of their closing costs. I get 6 or 8 calls a day. It is just a matter of finding qualified buyers. I figure this is the quickest way for me to move these homes right now.

It seems with FHA the loan criteria changes with each underwriter. My well and septic hasn’t even been looked at. Its strange…

Thanks for the help Greg, see you in Asheville.


Asheville. Never fails…we are set to close on our Park 8/1/07. Trying to sign everything and fund fully this week so it’s cool runnings at Bootcamp.

Thais is another reason i partner up on most everything I do…I can leave a LPOA with TJ and he can do the closing without my presence needed.

See ya in a week or so